Monday, July 4, 2016

Monday roundup (07-04-2016)

Italy could be on a collision course for two key reasons (CNBC)

Bad Debt Piled in Italian Banks Looms as Next Crisis: Brexit vote compounded strains in banking system burdened by sour loans; ‘Italy is the patient that is sickest’ (The Wall Street Journal) Italian banks battered after ECB warns MPS about bad loans: The financial crisis is coming back to roost in Italy after warnings about Banco Monte dei Paschi di Siena's massive amount of non-performing loans caused Italian banking shares to plumb new depths. (Deutsche Welle)

The OTHER crisis tearing Europe apart: Italy's PM is begging for £35 billion bank bailout but Germans keep saying 'nein' (This is Money)

Britain is plunging towards an economic nightmare, and it isn't just because of Brexit. (The Business Insider)

Standard and Poor's: UK will "barely escape fully-fledged recession" (CityAM)

     The aim of this blog is to show (mostly from reports in mainstream respected news sources) that there is reason to believe that both the United States and the global economies remain fragile in the wake of the financial crisis of 2008 and that a number of threats exist today that could, if they worsened, bring about economic depression -- not just a minor depression, but a depression worse than the Great Depression. Key threats include excessive risk-taking by financial firms, unchecked by effective regulation; the continued existence of "too big to fail" institutions; and most especially, the amassing of levels of public and private debt which could become unsustainable.

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